Backpack Market By Type (Casual Backpacks, And Travel Backpacks), Distribution Channel (Online Retail, And Offline Retail), By Price Range (Premium Backpacks, Mid-Range Backpacks, and Economy/Value Backpacks), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 – 2032

Report Summary

Backpack Market Size

The global backpack market size was worth around USD 16.3 billion in 2023 and is predicted to grow to around USD 17.8 billion by 2032 with a compound annual growth rate (CAGR) of roughly 9.1% between 2024 and 2032.

Backpacks are an adaptable and common item that provide essential storage options for people with a variety of lifestyles. The backpack features two shoulder straps that easily distribute the weight across the wearer's back and is designed to facilitate the carrying of personal belongings. Students, professionals, travelers and outdoor enthusiasts choose this luggage for its ergonomic design and practicality. New backpacks offers variety of designs, fabrics, and sizes, with multiple compartments, computer pockets, and hydration bags. With the availability of new materials and designs the backpack industry continues to evolve. New lightweight and durable materials such as polyester enhance the bag's practicality. In addition, introduction of anti-theft functions and USB charging ports are expected to increase the usability of the backpack in the digital age.

Backpack Market Key Insights

As per the analysis shared by our research analyst, the global backpack industry is estimated to grow annually at a CAGR of around 9.1% over the forecast period (2024-2032).

• In terms of revenue, the global backpack market size was valued at around USD 16.3 billion in 2023 and is projected to reach USD 17.8 billion, by 2032.

• The global backpack is projected to grow at a significant rate due to rising emphasis on multi-functionality and the innovative features in backpack design

• Based on type segmentation, casual backpacks was predicted to hold maximum market share in the year 2023.

• Based on distribution channel segmentation, online retail was the leading revenue generator in 2023.

• Based on price range segmentation, premium backpacks were the leading revenue generator in 2023.

• On the basis of region, Asia Pacific was the leading revenue generator in 2023.

Backpack Market Growth Drivers

Increasing emphasis on multifunctionality and innovative features in backpack design is propelling the market growth

The growing emphasis on versatility and new options in backpack design is a major driver of the backpack business. Customers want more than just a bag; they want backpacks that fit their modern, active lifestyles. This need has led to the development of a variety of features, including specific booths that integrate USB charging stations, RFID protection, anti-theft systems, and virtual devices. Manufacturers are leveraging technology and design innovation to create backpacks that provide green storage and also enhance consumer pride by meeting specific requirements, thereby increasing customer interest and market growth. According to a study conducted by leading backpack manufacturer Osprey Packs, 78% of respondents believe versatility is an important consideration when choosing a backpack. Additionally, the growing trend of remote working and flexible living has increased the demand for backpacks that can serve as mobile offices. 

Backpack Market Restraints

Impact of global supply chain disruptions is restraining the growth of the market

The global backpack industry is volatile to the disruptions of global supply chains. Most of the backpack manufacturers are depend on suppliers for raw materials. In the event of global disruptions such as natural disasters, geopolitical stability, and recession can result in shortages or delays of raw material. This can directly impact the production of backpacks, global transport, and also lead to increased production costs. As supply chain disruptions are unforeseen, businesses can face significant issues in ensuring stable product availability and pricing. In addition, the industry faces issues such as increased competition and customer price sensitivity. With many choices, buyers often seek the best value for money, which can limit a company's price elasticity. 

Backpack Market Opportunities

Growing trend of sustainability and eco-conscious consumer behavior to provide growth opportunities

There are growing opportunities for backpack industry due to growing sustainability trends and environmentally sensitive consumer behavior. The use of sustainable materials such as recycled fabrics or natural fibers in making backpacks is expected to rise due to increase awareness on the environment. In addition, manufacturers can take advantage of this trend to put themselves ahead in terms of social responsibility and attraction of new markets. Moreover, the emergence of personalized and customized backpacks also offers great opportunities to the market players. People have different lifestyles hence they are looking for specific bags for certain activities like holidays, outdoor excursions or city travels. To make unique and environment friendly bags companies can focus to adopt sustainable manufacturing process and eco-friendly materials to stay ahead of the competitors.

Backpack Market Challenges

Intensifying competition, driven by a saturated marketplace with numerous brands offering a wide array of products to challenge market growth

Increasing competition in the backpack industry is a major challenge faced by major market players in the industry. With the growing consumers demand, companies are forced to differentiate their products to stand out in a highly competitive industry. For instance, according to the latest finding there are more than 150 backpack manufacturing factories in the U.S. alone. Increased competitiveness often leads to price wars, making it difficult for companies to maintain strong profit margins. Moreover, changing consumer tastes and fashion trends create additional hurdles for backpack manufacturers. Rapid changes in fashion, color, and materials can fluctuate the demand for certain types of backpack. It can be difficult for companies to stay ahead of changing trends and ensure product lines reflect customer preferences.

Backpack Market Segmentation

The global backpack market is segmented based on type, distribution channel, price range, and region

Based on type, the global market segments are casual backpacks, and travel backpacks. The casual backpack category currently dominates the market. This growing share indicates customer preference for versatile and everyday backpacks. The appeal of casual backpacks may lie in their versatility in a variety of activities, making them a popular choice for a wide range of customers for daily commuting, schooling, work and leisure travel.

Based on distribution channel, the global market segments are online retail, and offline retail. The market is currently dominated by online retail. Growing trend towards use of e-commerce platforms such as Amazon and Flipkart drives the segments growth. Online channels offers convenience, wide product ranges and ease of comparison. In addition, availability of discount coupons and offers significantly drives the use of e-commerce platforms.

Based on price range the global backpack market categorized as premium backpacks, mid-range backpacks, and economy/value backpacks. In 2023, premium backpacks held the largest market share in the global market. With the increasing disposable income and economic growth are opting for high-end products with advanced features and high-quality materials. 

Backpack Market Regional Analysis

Asia Pacific to lead the market during the forecast period                                                                

It is estimated that the Asia-Pacific region will be leading in the backpack industry in the forecast future. The rapid growth of the industry is attributed to a number of key factors. First, Asia Pacific is home to many populous countries, such as China and India. Also, the growing younger population in these countries has fueled the demand for fashion and sports accessories. For instance, India is currently ranking first in terms of population of young generation. Secondly, growing disposable incomes and urbanization is driving the consumer spending on lifestyle and fashion items. Strong economic growth in these countries coupled with shifting consumer preferences has made the region an important market for the backpack industry. Moreover, presence of major market players in the region is strongly supporting the industry growth. Market players such as Samsonite, Targus, JanSport, Osprey Packs, Deuter, Victorinox, High Sierra, Outdoor Products, Quechua, and Blackwolf have major market share in the regions backpack market. China currently dominate the APAC market with the well-established manufacturing infrastructure, growing use of online channels, and vast advertisement network. With this China alone expected to generate 70% of the industries revenue in the APAC backpack market.

Backpack Market Report Scope & Dynamics

Backpack Market Key Developments

• In 2023, Samsonite expanded its outdoor business by acquiring K2 Sports, a company known for outdoor backpacks and other adventure gear.

• In 2022, Highsnobiety, acquired Herschel Supply Co., a well-known lifestyle backpack manufacturer, 

• In April 2022. To meet the growing demand for sustainability, Patagonia created the Black Hole line of backpacks made entirely from recycled materials.

• In 2022, Jansport teamed up with National Geographic to create a range of backpacks inspired by famous explorer Jane Goodall to promote environmental exploration and conservation.

• In 2022, Thule launched the Chasm luggage/backpack hybrid that's adaptable and versatile for travel and outdoor activities.

• In 2021, VF Corporation, acquired Eagle Creek, a well-known outdoor adventure backpack brand, in January 2021.

• In 2021, Osprey Packs released the Aether/Ariel Pro range, featuring eco-friendly materials to provide outdoor enthusiasts with more comfort.

Backpack Market Companies

The global backpack market is dominated by players like:

• Samsonite International S.A.

• VF Corporation (The North Face)

• Nike, Inc.

• Adidas AG

• Under Armour, Inc.

• Jansport (VF Corporation)

• Deuter Sport GmbH

• Osprey Packs, Inc.

• Herschel Supply Company

• Columbia Sportswear Company

The global backpack market is segmented as follows:

• By Region

• North America

• The U.S.

• Canada

• Mexico

• Rest of North America

• Europe

• France

• The UK

• Spain

• Germany

• Italy

• Nordic countries

• Denmark

• Sweden

• Norway

• Benelux Union

• Belgium

• The Netherlands

• Luxembourg

• Rest of Europe

• Asia Pacific

• China

• Japan

• India

• New Zealand

• Australia

• South Korea

• Southeast Asia

• Indonesia

• Thailand

• Malaysia

• Singapore

• Rest of Southeast Asia

• Rest of Southeast Asia

• The Middle East & Africa

• Saudi Arabia

• UAE

• Egypt

• Kuwait

• South Africa

• Rest of the Middle East & Africa

• Latin America

• Brazil

• Argentina

• Rest of Latin America